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The UK housing market remained subdued in August, with house prices edging up by 0.2% over the month and annual growth sitting at 1.6%, according to Nationwide's latest House Price Index.
The UK mortgage market is moving once again, with a number of major lenders increasing their mortgage rates as wholesale funding costs and swap rates rise. For anyone planning to buy, sell, remortgage or invest in property, this is an important development to keep an eye on.
The Bank of England is widely expected to hold interest rates at 3.75% when policymakers announce their latest decision on Thursday 30 July. While this may appear to signal stability on the surface, there are a number of underlying factors creating a more complex and uncertain outlook.
The UK property market continues to face a number of challenges, with mortgage costs, affordability, economic uncertainty and the overall cost of moving all influencing buyer and seller decisions.